AMLC Resolution No. 89

CIRCULAR LETTER Series of 2005

Attached is a copy of Resolution No. 89 dated 15 August 2005 issued by the Anti-Money Laundering Council relative to the request of the Government of the United States of America for information about the Movement for Islamic Reform in Arabia (MIRA), including the blocking of its assets.

The United States Department of the Treasury has designated the MIRA, a UK based Saudi oppositionist organization for providing material support to the Al-Qaida. It is under the ideological and operational control of Al-Qaida-affiliated Saad al-Faqih who is also said to be associated with Usama Bin Laden and the Taliban. MIRA also serves as Al-Faqih’s vehicle to propagate support for the AI-Qaida.

In view thereof, all banks and non-bank financial institutions under BSP supervision are hereby directed to submit directly to the Council reports of covered or suspicious transactions, if any, involving the Movement for Islamic Reform in Arabia (MIRA) in accordance with Sections 7 and 9 of the Anti-Money Laundering Act (AMLA), as amended, and Rule 9.3 of the Revised Implementing Rules and Regulations.

Thank you for your cooperation

NESTOR A. ESPENILLA, JR. Deputy Governor